Business briefs: Twin service deals for Viking SeaTech | Japan cuts outlook due to global gloom | Wood Group

SCOTTISH offshore engineering firm Viking SeaTech has signed two contracts with oil companies in Australia.

The services agreements, with Shell and Santos, will run for at a minimum of three years, and an insider said they were worth at least AUS$5 million (£3.3m) a year to the Aberdeen-headquartered firm.

Viking will provide mooring services, equipment and personnel to the oil majors.

Wood Group signs $10m repair deal

ENERGY services firm Wood Group yesterday won a $10 million (£6.5m) contract from Pasadena Water & Power to repair a gas turbine at a power station in California.

The Aberdeen-based group’s gas turbine services division will refurbish the unit at the Glenarm power plant and will upgrade the control system for the turbine. The contract begins this month and is expected to last for seven months.

Japan cuts outlook due to global gloom

Japan’s government has cut its economic outlook for the first time in almost a year because of the global slowdown.

The cabinet office warned that the eurozone debt crisis, combined with slower growth in China and the US, could hit exports and industrial production. Growth in the world’s third-largest economy fell to 0.3 per cent in the three months to June, down from

1 per cent in the first quarter.